Homewerks Worldwide, which makes private label and branded kitchen, bathroom and plumbing products, has garnered a growth investment from private equity firm H.I.G. Capital, a leading global alternative investment firm with $44 billion of equity capital under management
H.I.G. said it would be working with Homewerks founder and CEO Peter Berkman and his management team to provide capital and resources to take advantage of the company’s strategic growth initiatives, new product development and consolidation opportunities across the fragmented home improvement industry.
“We are thrilled to partner with H.I.G., which will enable Homewerks to scale its product offering while further expanding the company’s sales, marketing, and distribution capabilities across new and existing markets. We believe our customers and employees will benefit greatly from this partnership and are looking forward to the exciting next steps in Homewerks’ growth journey.”
Chicago-based Homewerks develops, sources and markets various home improvement products under its own brand names and retailer private brands in rough plumbing, fashion plumbing, HVAC and bath accessories.
“We believe Homewerks represents an ideal opportunity to invest in a differentiated, best-in-class distributor serving the highly attractive kitchen, bathroom, and plumbing home improvement categories,” said Ryan Kaplan, managing director at H.I.G. “We are looking forward to partnering with Peter and the rest of his talented executive team as they lead the organization through a new phase of organic and inorganic growth.”